Sysco Corporation (SYY) to Release Quarterly Earnings on Monday

Sysco Corporation (NYSE:SYY) will be issuing its quarterly earnings data before the market opens on Monday, August 14th. Analysts expect the company to announce earnings of $0.72 per share for the quarter.

Sysco Corporation (NYSE:SYY) last announced its earnings results on Monday, May 8th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. Sysco Corporation had a return on equity of 47.28% and a net margin of 1.93%. The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.14 billion. During the same period in the prior year, the company posted $0.46 EPS. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, analysts expect Sysco Corporation to post $2.47 EPS for the current fiscal year and $2.75 EPS for the next fiscal year.

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Sysco Corporation (SYY) opened at 52.33 on Monday. The company’s 50-day moving average price is $51.49 and its 200 day moving average price is $52.71. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The firm has a market capitalization of $28.01 billion, a price-to-earnings ratio of 27.59 and a beta of 0.52.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s dividend payout ratio (DPR) is 69.47%.

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SYY has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Guggenheim reaffirmed a “neutral” rating on shares of Sysco Corporation in a report on Tuesday, April 11th. BMO Capital Markets raised Sysco Corporation from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $56.00 to $60.00 in a report on Thursday, May 4th. Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 price target (up from $50.00) on shares of Sysco Corporation in a report on Monday, May 8th. Finally, Royal Bank Of Canada lifted their price target on Sysco Corporation from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 9th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $56.02.

In other news, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $49.92, for a total transaction of $1,497,600.00. Following the sale, the chief executive officer now owns 406,725 shares in the company, valued at $20,303,712. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of Sysco Corporation stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $50.82, for a total value of $396,396.00. Following the sale, the executive vice president now owns 58,776 shares in the company, valued at approximately $2,986,996.32. The disclosure for this sale can be found here. Insiders have sold 152,400 shares of company stock worth $8,121,300 in the last quarter. Insiders own 8.81% of the company’s stock.

Sysco Corporation Company Profile

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.